Ex-ECB chief Trichet is new chairman of G30

FRANKFURT

European Central Bank (ECB) President Jean-Claude Trichet waves as he leaves a euro zone leaders summit in Brussels October 27, 2011.

Reuters/Francois Lenoir/Files

FRANKFURT Former European Central Bank president Jean-Claude Trichet is to become the new chairman of the Group of Thirty (G30), an international forum of public and private sector financial leaders, the group said on Tuesday.

Trichet, who was ECB president until his eight-year term expired at the end of last month, succeeds Jacob Frenkel, chairman of JP Morgan Chase International.

The G30 says on its website it aims to deepen understanding of international economic and financial issues, to explore the international repercussions of decisions taken in the public and private sectors, and to examine the choices available to market practitioners and policymakers.

Trichet said in a statement: "This is a time of exceptional challenges to the global economic and financial system, and the G30 will continue to make significant contributions to the policy debate and enhance understanding of the critical paths to stability and to economic growth."

The G30, which used to be known as The Consultative Group on International Economic and Monetary Affairs, is a private, non-profit organisation.

(Writing by Paul Carrel; editing by Anna Willard)

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